McKinney | February 2023

DEVELOPMENT Proposed $35.9M redevelopment to increase public housing units

BY SHELBIE HAMILTON

1950s as part of the city’s public housing stock. Cockrell Homes and Lloyd Owens are located roughly a mile apart and have a combined 50 housing units on 5.9 total acres, according to city documents. The proposed project, called the Remnant at Greenwood Apartments, would construct 96 new units in various congurations. The Cockrell Homes site would see 36 townhouse units and ve duplexes, and Lloyd Owens has two- and three- story multifamily buildings planned. “This development will serve as workforce housing, oering well-appointed units with modern amenities, smart-home features and energy-ecient features to help lower the residents’ utility rates,” said Christianne Brunini, chief marketing ocer for Knight Development. This project is part of a larger initiative by the city of McKinney and

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A proposed $35.9 million redevel- opment project is planned for public housing units in east McKinney. The Lloyd-Owens and Cockrell Homes housing units on the east side of SH 5 are being targeted for an expansion and upgrades as part of a public-private partnership. The McKinney Housing Authority is partnering with Louisiana-based Knight Development to demolish the existing units and rebuild larger, updated multifamily residences to provide the area with additional aordable housing units. “We’re ready to bring this eco- nomic opportunity to this side of the community and improve the community, and also add value to the community,” said Roslyn Miller, executive director of the McKinney Housing Authority. The properties were built in the

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The public housing units on the site were built in the 1950s, according to city documents.

SHELBIE HAMILTON/COMMUNITY IMPACT SMITH ST. BROAD ST.

the McKinney Housing Authority to revitalize the city’s housing stock and add units to the growing city, Miller said. The city has just under 800 public housing units, which serve all of McKinney. The proposed deal is scheduled to close this summer and could begin construction shortly after, according to Brunini. Construction would take roughly two years with an estimated August 2025 completion date and would be completed in phases. The project is estimated to cost about $35.9 million, including both demolition and construction costs, according to city documents. The

project is anticipated to be funded by both public and private funds, includ- ing tax exempt bonds and grants, Brunini said. A portion of the units will be reserved for the Department of Housing and Urban Development’s Housing Choice Voucher Program, which is the program in use at the properties. Additional units added will range in cost between $712- $2,504, according to city documents, and will serve residents making between 30%-80% of the area’s median income of $97,400, according to data from the Texas Department of Housing and Community Aairs, Brunini said.

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